Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
This paper compares long‐run implications for growth and fertility of four types of taxation for social security with positive bequests. A tax rise under lump‐sum taxation enhances growth but lowers fertility, while other types of taxation do so under additional restrictions. A tax rise under consumption taxation is less likely to stimulate growth and to reduce fertility than under payroll taxation. A rise in an interest income tax raises fertility, reduces both savings and human capital investment, and hence is harmful for growth. The case with zero bequests is also discussed.